BounceBit: Infrastructure for Native Restaking Bitcoin

#BounceBitPrime $BB @bounce_bit BounceBit is a Layer 1 network providing native restaking solutions for BTC tokens, while aiming to expand the application of several tokens such as USDT, DAI… In addition, BounceBit is also compatible with EVM, allowing developers to conveniently execute dApps on the network. Furthermore, the project integrates the BounceBit Bridge and BounceClub features to provide a seamless experience for users. Currently, the project is in the testnet version for users to experience, with the mainnet expected to launch in April 2024. With the mainnet, users staking BTC, USDT… will receive liquid staking token (LST) stBB & stBBTC to continue restaking on dApps and earn profits. The operating model of BounceBit BounceBit operates on a dual model (dual), leveraging the advantages of CeFi and DeFi to provide an optimal experience for users through 4 components: BounceBit protocol, BounceClub, BounceBit PoS chain, and Shared security clients. Among them: BounceBit protocol: It is a protocol that provides a bridge (bridge) allowing users to convert tokens such as BTC, BTCB, USDT… into wrapped tokens. For the wrapped token of BounceBit-BBTC, users stake on the BounceBit Chain to become node validators. With other wrapped tokens like BUSDT, BETH… users can use them to participate in dApps on BounceClub and earn profits. In addition, the BounceBit protocol also provides users with the ability to send (deposit) assets such as BTC, WBTC, USDT… to earn two amounts: the funding rate difference (funding rate arbitrage) from CEX exchanges and fixed profit (fixed earn). (Note: Currently with the testnet version, users can only receive reward points (point) for their stake. Points are considered a condition that allows users the opportunity to receive airdrops in the future). BounceClub: It is a center providing a set of programming tools to assist developers in deploying dApps on the BounceBit PoS chain: It is a layer 1 network using a dual-token model, allowing users to stake BBTC or BB (native token of the project) and receive liquid staking tokens stBBTC or stBB. Shared security clients (SSC): These are restaking protocols that use users' stBBTC or stBB to enhance security as a service. Simply put, users continue to restake the LST on SSC and receive accumulated rewards.

Highlights of BounceBit Unlike many restaking protocols on the Ethereum ecosystem, BounceBit stands out by focusing on the Bitcoin network and offers the following advantages: Combining CeFi and DeFi: Allowing users to earn funding rate profits from centralized exchanges, while utilizing the LSD BTC of the protocol to participate in DeFi applications such as farming, lending… to enhance capital efficiency. Dual-token model: The network uses a PoS mechanism with 50 validators divided into two groups according to the dual-token model: BBTC and BB. This helps BounceBit expand the pool of participants operating the network, thereby promoting the security of the project. What is the token of BounceBit? BB Token Key Metrics Token Name: BounceBitTicker: BBBlockchain: UpdatingToken Standard: UpdatingContract: Updating Token type: Utility & GovernanceTotal Supply: 2,100,000,000 BBCirculating Supply: Updating BB Token Use Cases Token BB is used for the following cases: Stake BB to participate in network security. Rewards for validators. Gas fees for certain activities on the network. Governance and voting for project changes. Roadmap of BounceBit The development roadmap of BounceBit in 2024 is as follows: January 2024: The water margin. March 2024: Launch of testnet. April 2024: Launch of mainnet.

The project team and investors of BounceBit Project team BounceBit was developed by anonymous members. However, the founder of BounceBit is named Jack L. According to Jack L, in 2018 he was a partner at NGC Ventures. Then, in 2020 he became a co-founder of Bounce, and by 2024 he founded BounceBit. Investor BounceBit has successfully raised 6 million USD in a Seed round, led by Breyer Capital, Blocchain Capital, and several other funds such as dao5, CMS, Bankless Ventures… In addition, the project also attracts participation from angel investors; however, the amount or funding round has not been disclosed.